US Repatriates $52.88M Linked to Diezani Alison-Madueke to Nigeria
The United States government has repatriated $52.88 million linked to Nigeria’s former Petroleum Resources Minister, Diezani Alison-Madueke, marking a significant step in ongoing efforts to recover assets tied to corruption.
The funds, forfeited from the Galactica assets connected to Alison-Madueke and her associates, were formally handed over during an Asset Return Agreement signing ceremony at the Federal Ministry of Justice headquarters in Abuja on Friday.
Strengthening Anti-Corruption Efforts
The agreement was signed by the US Ambassador to Nigeria, Mr. Richard Mills Jnr., and Nigeria’s Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi. The AGF described the event as a testament to President Bola Tinubu’s commitment to eradicating corruption and ensuring that Nigeria’s resources are utilized for socio-economic development.
“Today, the execution of this agreement solidifies the repatriation of $52.88 million forfeited from the Galactica assets linked to Diezani Alison-Madueke and her associates,” Fagbemi said.
He added that $50 million of the funds would be directed through the World Bank to support Nigeria’s Rural Electrification Project, increasing renewable energy availability in rural areas. The remaining $2.88 million will be allocated as a grant to the International Institute for Justice (IIJ) to enhance counter-terrorism capacity for criminal justice practitioners across Africa.
Transparency and Accountability Measures
The AGF emphasized that measures are in place to ensure transparent and accountable utilization of the repatriated funds. Both the World Bank and the IIJ will provide periodic reports on project implementation to the Nigerian and US governments.
US Confidence in Nigeria’s Commitment
Ambassador Mills Jnr. reaffirmed the US government’s trust in Nigeria’s commitment to utilizing the funds effectively for public benefit.
“As you just heard, we have returned nearly $53 million of funds corruptly taken from Nigeria. This agreement underscores the collaboration between our governments in combating corruption, upholding the rule of law, and ensuring that stolen assets are returned to benefit the Nigerian people,” Mills stated.
He added, “We would not be signing this agreement if we did not have confidence in the Nigerian government’s ability to monitor and ensure these funds are used appropriately.”
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A Milestone in Asset Recovery
This development highlights the ongoing partnership between Nigeria and the United States in addressing corruption and recovering stolen assets. The returned funds, earmarked for critical development and counter-terrorism initiatives, reflect a shared commitment to fostering accountability and improving the lives of Nigerian citizens.
